Conference Paper

Privacy-preserving KYC on Ethereum

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Date

2018

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European Society for Socially Embedded Technologies (EUSSET)

Abstract

Identity is a fundamental concept for the financial industry. In order to comply with regulation, financial institutions must verify the identity of their customers. Identities are currently handled in a centralized way, which diminishes users' control over their personal information and threats their privacy. Blockchain systems, especially those with support for smart contracts (e.g., Ethereum), are expected to serve as a basis of more decentralized systems for digital identity management. We propose a design of a privacy-preserving KYC scheme on top of Ethereum. It would let providers of financial services leverage the potential of blockchain technology to increase effciency of customer onboarding while complying with regulation and protecting users' privacy.

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Biryukov, Alex; Khovratovich, Dmitry; Tikhomirov, Sergei (2018): Privacy-preserving KYC on Ethereum. Proceedings of 1st ERCIM Blockchain Workshop 2018. DOI: 10.18420/blockchain2018_09. European Society for Socially Embedded Technologies (EUSSET). PISSN: 2510-2591. Amsterdam, Netherlands. 8 - 9 May 2018

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